European shares extend gains ahead of US-Russia talks
The pan-European STOXX 600 index (.STOXX), opens new tab was up 0.3% by 0708 GMT, hovering near its strongest level since July 31.
Ukrainian President Volodymyr Zelenskiy won diplomatic backing from Europe and the NATO alliance ahead of a Russia-U.S. summit this week, where Kyiv fears Russian President Vladimir Putin and U.S. President Donald Trump may try to dictate terms for ending the 3-1/2-year war.
Trump, who is set to meet Putin in Alaska on Friday, said a potential deal would involve "some swapping of territories to the betterment of both (sides)."
Hopes of a peace deal weighed on German defence companies. Shares of Rheinmetall (RHMG.DE), opens new tab dropped 3.7%, while those in Renk (R3NK.DE), opens new tab and Hensoldt (HAGG.DE), opens new tab were down 3% and 2.1%, respectively.
Orsted (ORSTED.CO), opens new tab plunged 22% after the Danish wind farm developer said it plans a 60-billion-crown ($9.4 billion) rights issue, citing adverse development in the U.S. offshore wind market.
Northern Data (NB2.DE), opens new tab dropped nearly 3% after U.S. video platform and cloud services provider Rumble (RUM.O), opens new tab said it was considering an offer of about $1.17 billion for the German AI cloud group.
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Reuters
14 minutes ago
- Reuters
Trump holds high-stakes meeting with Intel CEO after calling for his resignation
Aug 11 (Reuters) - U.S. President Donald Trump said he met with Intel (INTC.O), opens new tab CEO Lip-Bu Tan on Monday, days after seeking his resignation, praising Tan and calling the meeting "a very interesting one." Shares of the chipmaker rose 3% in extended trading. Last week, Trump had demanded the immediate resignation of Tan, calling him "highly conflicted" over his ties to Chinese firms, injecting uncertainty into the chipmaker's years-long turnaround effort. Trump said he met with Tan, along with Commerce Secretary Howard Lutnick and Treasury Secretary Scott Bessent. His cabinet members and Tan were going to bring suggestions to him next week, Trump said in a post on Truth Social. "His success and rise is an amazing story," Trump said about Tan. Tan had invested in hundreds of Chinese firms, some of which were linked to the Chinese military, Reuters reported exclusively in April. It is not illegal for U.S. citizens to hold stakes in Chinese companies unless they have been added to the U.S. Treasury's Chinese Military-Industrial Complex Companies List, which explicitly bans such investments. Tan has been tasked to undo years of missteps that left Intel struggling to make inroads in the booming AI chip industry dominated by Nvidia, while investment-heavy contract manufacturing ambitions led to hefty losses. In the roughly six months as Intel CEO, Tan made major strategic shifts that included divesting assets, laying off employees and redirecting resources. But the demand for Tan's resignation will only distract him from that task, investors and a former senior employee have told Reuters. Tan is now making an effort to reassure Trump that he remains the right person to revive the storied American chipmaker. Tan met with Trump for a candid and constructive discussion on the company's commitment to strengthening U.S. technology and manufacturing leadership, Intel said in a statement. The company said it would work closely with the administration to "restore this great American company." Trump's intervention marked a rare instance of a U.S. president publicly calling for a CEO's ouster and raised questions about his control over corporate affairs. This was also evident in an agreement calling for Nvidia and AMD to give the U.S. government 15% of revenue from China sales.
BBC News
42 minutes ago
- BBC News
Is crime in Washington really out of control as Trump claims?
President Donald Trump has said he will deploy hundreds of National Guard troops to Washington DC and is taking control of its police department to fight crime. At a press conference, he declared "Liberation Day" for the city and pledged to "rescue our nation's capital from crime, bloodshed, bedlam and squalor and worse".However, Mayor Muriel Bowser has said the city has "seen a huge decrease in crime" and that it was "at a 30-year violent crime low".BBC Verify looks at what the figures show about violent crime in the capital and how it compares to other cities in the US. Is violent crime up in Washington DC? Trump's executive order declaring "a crime emergency in the District of Columbia" mentions "rising violence in the capital". In his press conference he made repeated references to crime being "out of control".But according to crime figures published by Washington DC's Metropolitan Police (MPDC), violent offences fell after peaking in 2023 and in 2024 hit their lowest level in 30 are continuing to fall, according to preliminary data for crime overall is down 26% this year compared to the same point in 2024, and robbery is down 28%, according to the and the DC Police Union have questioned the veracity of the city police department's crime figures. Violent crime is reported differently by the MPDC and the FBI - another major source of US crime public data showed a 35% fall for 2024, while the FBI data showed a 9% the figures agree that crime is falling in DC, but differ on the level of that downward trend is "unmistakable and large", according to Adam Gelb, the CEO of the Council on Criminal Justice (CCJ), a legal think tank."The numbers shift depending on what time period and what types of crime you examine," said Mr Gelb. "But overall there's an unmistakable and large drop in violence since the summer of 2023, when there were peaks in homicide, gun assaults, robbery, and carjacking." What about murder rates? Trump also claimed that "murders in 2023 reached the highest rate probably ever" in Washington DC - adding that numbers "just go back 25 years".When we asked the White House the source for the figures, they said it was "numbers provided by the FBI".The homicide rate did spike in 2023 to around 40 per 100,000 residents - the highest rate in 20 years, according to FBI that was not the highest ever recorded - it was significantly higher in the 1990s and in the early 2000s. The homicide rate dropped in 2024 and this year it is down 12% on the same point last year, according to the have suggested that the capital's homicide rate is higher than average, when compared to other major US cities. As of 11 August, there have been 99 homicides so far this year in Washington DC - including a 21-year-old congressional intern shot dead in crossfire, a case Trump referred to in his press conference. What about carjackings? The president also mentioned the case of a 19-year-old former employee of the Department of Government Efficiency (Doge) who was injured in an alleged attempted carjacking in the capital at the start of claimed "the number of carjackings has more than tripled" over the last five far this year, the MPDC has recorded 189 carjacking offences, down from 300 in the same period last to the CCJ, carjacking rose markedly from 2020 onward and spiked to a monthly peak of 140 reported incidents in June July 2025, a citywide curfew has been in force for people under the age of 17 from 23:00 to 06: was introduced to combat juvenile crime - including carjacking - which often spikes in the summer months. How does crime compare to other parts of the US? "The level of violence in the District remains mostly higher than the average of three dozen cities in our sample," Mr Gelb from the CCJ told us. "Although it is consistent with what we're seeing in other large cities across the country," he CCJ looks at crime rates across 30 large US analysis suggests that the homicide rate in DC fell 19% in the first half of this year (January-June 2025), compared with the same period last is a slightly larger fall than the 17% average decline across the cities in the CCJ's study if you take the first six months of 2025 and compare it to the same period in 2019 - before the Covid-19 pandemic - it shows only a 3% fall in the 30 cities in the study, that decrease was 14% over the same timeframe. What do you want BBC Verify to investigate?
BBC News
44 minutes ago
- BBC News
World Business Report US-China tariff deadline extended by 90 days
President Donald Trump has signed an executive order extending tariffs on China for another 90 days. Chip giants Nvidia and AMD have agreed to pay the US government 15% of Chinese revenues as part of an "unprecedented" deal to secure export licences to China. And remember that distinctive sound of dialling in via the internet in the early days of connecting? Well. It's days are numbered….Yahoo has announced that it will discontinue AOL Dial-up Internet on September 30th.
